Full Citation

Title: Accounting for changing returns to experience

Citation Type: Journal Article

Publication Year: 2018

ISBN:

ISSN:

DOI: 10.1515/bejm-2015-0201

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PMID:

Abstract: Returns to experience for U.S. workers have changed over the post-war period.This paper argues that a simple model goes a long way towards replicating these changes. The model features three well-known ingredients: (i)an aggregate production function with constant skill-biased technical change; (ii) cohort qualities that vary with average years of schooling; and crucially (iii) time-invariant age-efficiency profiles. The model quantitatively accounts for changes in longitudinal and cross-sectional returns to experience, as well as the differential evolution of the college wage premium for young and old workers.

Url: https://www.degruyter.com/downloadpdf/j/bejm.2018.18.issue-1/bejm-2015-0201/bejm-2015-0201.pdf

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Authors: Hendricks, Lutz

Periodical (Full): The B.E. Journal of Macroeconomics

Issue: 1

Volume: 18

Pages: 18

Data Collections: IPUMS CPS

Topics: Aging and Retirement, Labor Force and Occupational Structure, Work, Family, and Time

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